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CONSULATE GENERAL OF MEXICO
IN SAN DIEGO

1549 India St.
San Diego CA 92101

 

 

 

 
THE MEXICAN ECONOMY AT A GLANCE

Overview

Mexico is the fourteenth (14th) largest economy in the world and the second in Latin America.
(Source: IMF 2010).

Mexico is the eleventh (11th) most populated country with 107.6 million inhabitants.
(Source: IMF/CONAPO 2009).

In 2009 GDP (Gross Domestic Product) per capita amounted to 8,096 dollars, which is above Latin American average.  (Source: IMF 2010).

 Mexico actively participates in world trade. It is the 10th largest exporter and importer worldwide, accounting for 2.4% and 2.5% of the world’s total exports and imports, respectively. (Source: World Trade Report WTO, 2010).

Mexico has signed 11 Free Trade Agreements with 43 countries, including United States, Canada, the European Union and Japan, some of the largest and most lucrative markets in the world.

In 2009 global Foreign Direct Investment (FDI) estimated inflows reached US$1,040 billion. In that year, Mexico was the second recipient of FDI among Latin American countries (Source: UNCTAD, 2010). In 2009, Mexico attracted an amount of US $12.5 billion of FDI.

At the end of 2009, Mexico’s international reserves added up to US$90.8 billion, equivalent to almost five months of imports.

 Mexico is committed to continue its economic reform in order to achieve greater levels of competitiveness and to promote sustainable economic growth.

The Mexican economy offers macroeconomic stability, supported in financial policies aimed at maintaining balance in budget, with a modest deficit or surplus.

The disciplined and responsible conduction of Mexico’s monetary policy has resulted in one-digit annual inflation rate, similar to those of our main trading partners.

The full flexibility of the exchange rate has allowed smooth adjustments to external shocks, avoiding disruptive episodes of the balance of payments.

Economic Outlook

In 2009, Mexico faced a more volatile and less favorable international economy due to the economic recession in the world´s main economies and the deceleration of the emerging and less developed countries.

Although during 2009 the Mexican authorities implemented economic policy measures to mitigate the negative impact of a less favorable international environment, the Mexican economy fell 6.5% in that year.

The Mexican economy decreased 6.5% in 2009. The primary sector grew 1.8%; while the industrial and service sectors fell 7.3% and 6.6% respectively. The most important falls were in the sector of trade (14.5%), manufacturing (10.2%), leisure and food and beverage services (9.6%), and construction (7.5%).

The fall in productive activity in 2009 is due to the fact that the effects of the international economic crisis, were greater than initially anticipated; to the impact of the A (H1N1) flu in Mexico; and to a larger fiscal deficit, which resulted from lesser oil revenues caused by a reduction in production and prices of energy products.

The Mexican economy has shown a solid recovery during the first months of 2010. In the first quarter, the Mexican real GDP grew 4.3%; thousand of employments have been created, and exports increased 33%. This performance, has allowed Mexican authorities and international organizations like IMF, OCDE and World Bank, to raise their perspectives on the Mexican economy. Growth in 2010 is expected to be of around 4%, based on the recovery of exports and aggregated demand and due to the strong public finances.

Note: Some data in this paper could change due to further revisions and updates, as is the case of GDP.

 

 

CONTACTO / CONTACT
Department of Economic Affairs
Alberto Díaz Gonzalez
Tel. (619) 308-9924
Email. adiazg@sre.gob.mx
1549 India Street
San Diego, Ca. 92101
Economic Promotion
Adriana Bacelis Sotomayor
Tel. (619) 308-9949
Email. abacelis@consulmexsd.org